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PenFed Credit Union and InvestiFi Join Forces

In a groundbreaking initiative, PenFed Credit Union, one of the largest credit unions in the United States, has teamed up with InvestiFi, a prominent player in digital investment solutions. This partnership is set to revolutionize how PenFed's nearly 2.8 million members engage with their investments by embedding robust digital investing capabilities directly within their online and mobile banking platforms.

A New Approach to Investing

The collaboration allows PenFed members to access various investment options without the usual complexities associated with third-party platforms. With features like self-directed securities investing and a Guided Investing robo-advisory service, the offerings are designed to accommodate both novice and seasoned investors. Additionally, members can benefit from comprehensive educational resources covering various financial topics, empowering them to make informed investment choices.

Seamlessness at Its Best

One of the standout features of this partnership is the seamless experience it provides. Members can fund their investments directly from their existing checking accounts and view their investment balances in real-time through PenFed's digital banking interface. This streamlined process eliminates the need for juggling multiple logins or navigating through disjointed workflows—issues that often deter users from investing.

Jamie Gayton, Executive Vice-President of Member Operations and Global Fixed Assets at PenFed, emphasizes that today’s members expect comprehensive financial services from their credit union. “By partnering with InvestiFi, we’re providing a united platform for both banking and investing. Our mission is to make investing approachable, and this partnership aligns perfectly with that goal,” Gayton stated.

Changing User Behavior

Kian Sarreshteh, CEO of InvestiFi, notes that users often compromise potential earnings on their cash deposits solely for the ease of investing directly from their checking accounts. This partnership aims to bridge that gap, helping users feel confident and empowered while engaging with their financial matters. Sarreshteh is optimistic that this collaborative effort will transform investing from a daunting task into an accessible opportunity for PenFed's members.

Setting a New Benchmark

This collaboration marks a significant milestone for credit unions. By providing an integrated financial experience, the partnership addresses evolving member expectations and establishes a new benchmark for financial service providers. Not only does this alliance offer substantial value to PenFed members, but it also propels InvestiFi’s mission of fostering inclusive and accessible financial innovation.

About PenFed and InvestiFi

Founded in 1935, PenFed Credit Union serves a diverse membership of nearly 2.8 million individuals with total assets of approximately $29 billion. The credit union offers a range of financial services, including mortgages, personal loans, and competitive checking and credit card options. PenFed is federally insured and committed to serving its members' interests.

On the other hand, InvestiFi provides innovative InvestTech solutions designed for trading to and from deposit accounts. This strategic approach enables credit unions and community banks to retain assets while attracting new clients. With its award-winning platform, InvestiFi aims to redefine investment accessibility for all financial institutions.

This collaboration between PenFed and InvestiFi promises a future where investing is not just for the affluent but is accessible to everyone—changing lives one investment at a time.